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2007-5-2 11:59:00 a.m. HKT, XFNA
Hong Kong's Meadville Hldgs to form jv with Japan's Hitachi Chemical
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HONG KONG (XFN-ASIA) - Meadville Holdings Ltd, a printed circuit board
manufacturer, said it will form a joint venture with Hitachi Chemical Co Ltd
(Hitachi Chemical) to expand the company's prepreg and laminate productivity.
Meadville and Hitachi Chemical will build a new laminate production plant
in Guangzhou, the company said in a statement.
Meadville will take a 93.71 pct stake in the joint venture while Hitachi
Chemical will hold the remaining 6.29 pct stake.
The first phase of investment for the new plant will amount to 30 mln
usd, including building the plant and machinery, which is scheduled for the
second quarter of this year.
The company expects that its existing prepreg and laminate production
capacity will increase by 110 pct, from 11.1 mln square feet and 2.9 mln
square feet per month, respectively, to 24 mln square feet and 6.1 mln square
feet per month.
At 11.47 am, Meadville was up 0.07 hkd or 4.07 pct at 1.79.
roby.lau@xfn.com
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